Wall Street Breakfast Amazon weighs biggest corporate layoff yet
10 snips
Oct 28, 2025 Amazon is set to lay off up to 30,000 corporate employees, a significant reduction aimed at slashing costs. In other news, social media giants like Meta and TikTok are agreeing to comply with Australia's new ban on under-16 users. Additionally, Strategy has received a junk credit rating from S&P, raising concerns about its heavy reliance on bitcoin. Finally, there's a look at market trends including rising EU car sales and Tesla's shrinking market share.
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Amazon Plans Major Corporate Cuts
- Amazon plans to cut about 30,000 corporate jobs to reduce costs after pandemic overhiring.
- The layoffs span HR, devices, services and operations, signaling broad professional workforce trimming.
Layoff Messaging And Macro Risk
- Managers received training on communicating layoffs and notifications were set to go out via email immediately.
- UBS's Paul Donovan warned that widening job losses could chill consumer spending and affect macro demand.
Social Platforms To Comply With Australia Ban
- Meta, Snap and TikTok will comply with Australia's ban on under-16 users starting December 10.
- Platforms had argued enforcement is complex and would push kids to less-regulated corners of the internet.